New Haven metals firm to invest $13.3 million, create five jobs
By Kevin Leininger | News-Sentinel
A $13.36 million expansion is expected to create five jobs at a New Haven smelting company.
Superior Aluminum Alloys is seeking a tax abatement on its plan to invest $6 million in real estate improvements and $7.36 million in new equipment at its 14214 Edgerton Road plant, with construction expected to start in September. According to the application to be considered by New Haven City Council next week, the company currently operates four furnaces but wants to add a fifth, which would increase its production capacity by about 25 percent.
The company has about 140 employees now, and the new production jobs will pay between $21,000 and $45,000. Superior was formed by the Fort Wayne-based metals recycling firm OmniSource in 1998 and produces about 260 million pounds of aluminum alloys annually, with sales of more than $165 million in 2016.
Abatements gradually phase in taxes on new buildings and equipment. If the company’s application is approved, it would save $716,705 in real estate taxes and $354,034 in equipment taxes over 10 years.
Just last year the company sought an abatement on the purchase of $11.9 million in equipment that was expected to create 10 jobs.